Bitcoin Defies Bear Market Conditions as Breakout Level Approaches

Bitcoin's prolonged defense of its median realized price has increased the chances that its next large move could favor buyers, according to Bitfinex analysts. The median realized price is $63,200, and Bitcoin has held above this level through repeated tests over the past two weeks.

The analysts also identified $67,176 as a breakout level that could raise the chances of an upside volatility expansion. However, the potential rally lacks fresh liquidity due to weak ETF demand and falling stablecoin supply.

Bitfinex noted that price has sustained above the median realized price despite repeated tests and signals hinting at late bear market conditions. This combination suggests higher odds that volatility expansion breaks to the upside.